Asset Care Recap of Highlights

Since the roll out of our new Asset Care products over the summer, many of our current producers have been pleased by the new opportunities that have been created. Here are a few reminders: 1.) Our qualified money solution has been enhanced and rebuilt to maximize the long term care benefits while minimizing taxes.  It … Continue reading Asset Care Recap of Highlights

E-Application Advantage

On thing that we’ve found is that submitting business using electronic application (eApp) has provided advisors with a few advantages. Along with the an assurance that an application submitted electronically is "in good order" (aka IGO), there are four additional benefits: Comp is paid faster Business cycle by 5-7 days A smoother client experience Reduction … Continue reading E-Application Advantage

Self-Funding isn’t Self-Insurance

Last week, I shared my opinion about self-insurance. In reality, self-insurance is pure risk retention.  Said another way, it is self-funding without any “stop-loss” provisions. At a minimum, reviewing the extended healthcare self-funding / risk retention strategy in conjunction with the client’s income plan is imperative to making it as solid as possible.  Most importantly, … Continue reading Self-Funding isn’t Self-Insurance

Q&A – Funding Sources

Question:  Do you have anything that outlines all of the ways to pay premiums for Asset Care and/or Annuity Care? Answer:  We certainly do.  The piece is a concise graph that shows the many ways that premiums can be funded. Two things to remember, for recurring premium Asset Care, the premium durations can be 5 … Continue reading Q&A – Funding Sources

Asset Care Return of Premium

Live, Die, Quit – that has been the mantra for asset-based / linked benefit / hybrid Long Term Care solutions since their inception three decades ago.  (Have I mentioned that only OneAmerica and one other carrier have that experience?) We often focus on the Live and Die scenarios.  If you require care while you are … Continue reading Asset Care Return of Premium

It’s Long Term Care for a Reason

The fastest way to impoverishment or to destroying a retirement income strategy or to impact multiple generations physically, emotionally, and financially is not an extended healthcare event. It is not adequately planning for such an event. According to retirementliving.com, the cost of memory care in 2019 is: Average memory care unit     $5,745 per month Highest … Continue reading It’s Long Term Care for a Reason

History of Innovation

Asset-based LTC, aka hybrid or linked linked benefit, have existed since 1988.  OneAmerica stakes a claim to being the premier innovator of this space. There is only one other carrier who can make this claim.  What they and the other carriers in the asset-based LTC arena cannot claim is the depth and breadth of solutions … Continue reading History of Innovation

Annuities – Think Leverage

Think about all of the people who own deferred annuities.  Now think about how many are out of surrender and have no real purpose.  Let our Annuity Care solutions provide new value to those old annuities. Here are a few points to consider when annuity discussions arise with clients. A majority of non-qualified deferred annuity … Continue reading Annuities – Think Leverage

Income and LTC

Forbes published an article on April 16, 2019 that shared “Comparing The 3 Most Popular Retirement Income Strategies”.  According to the article, there are three common approaches: Systematic Withdrawal Strategy Using this strategy, if you had $1,000,000, you could withdraw roughly 4% ($40,000) per year adjusted for inflation and would not run out of money.  … Continue reading Income and LTC

Q&A – Inflation for Asset Care

Question:  What inflation options exist for the "new" Asset Care? Answer:  The inflation options that are offered are 3% compound and 5% compound for both the base and continuation of benefit rider (COB). Inflation can also be either lifetime or 20 years in duration. When inflation is elected for the base, that same inflation rate … Continue reading Q&A – Inflation for Asset Care